Tips for Using CRM to Support Profit Optimization

According to a new report on Hospitality.net, CRM can no longer function as just a database of customer names and contact information. As noted in the report, CRM must assume a new much more central role in profit optimization across the entire enterprise. This article describes what a new CRM should do, some of the steps that need to be taken and how this new CRM should be utilized.

"In today's enterprises we need to begin with the question of what is our most important asset and decisions that need to be made? Hopefully it will not take long for everyone to agree that customers are the most important asset. Decisions that impact customers and their relationships with the enterprises are the most important decisions that a company can make. Everything begins with, ends with and flows from the enterprise's interactions with its customers. Enterprises should craft a long term strategic goal of adopting the best possible tools for interacting with their customers and create the best possible database of customer information and predictive analytics. Within a C3I systems strategy, customer information and predictive analysis should be the basis for all interactions with customers. Centralized information and predictions should be used to control every discipline in a company that affects each customer."

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